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VietNamNews

Southern province promotes investment in Laos

Update: July, 19/2012 - 16:39

Ha Noi -- The southern province of Dong Nai has registered more than US$1.1 billion in investment in Laos, according to the Dong Nai Investment and Planning Department.

The department said most of its registered investment capital was in the Lao province of Champasak, which had a special brotherly relationship with Dong Nai Province.

Investment was largely in the agriculture and service sectors. Dong Nai's businesses have invested in rubber and coffee plantation and recreational facilities in Champasak province.

"These projects are all very effective investments, making a great contribution to the Lao province's socio-economic development," said Director of the Champasak Investment and Planning Department, Saithong Xanhavong.

Dong Nai's Tin Nghia corporation invested $34.6 million in coffee and rubber plantations, a processing project and a $16 million Mekong resort project.

Long Thanh Joint Stock company has a $1.1 billion project to build a complex including a 5 star hotel, golf course with 18 holes, villas and school and hospital covering an area of over 550 hectare in the Lao province. This construction project started in 2010 and is expected to be completed by 2022.

Viet Nam has had 212 investment projects worth of US$3.45 billion in Laos since bilateral relations were established, with investment projects in the fields of hydro-electricity, mineral exploitation, agriculture, forestry and services.--VNS

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